M&A · Industrials · Refuse Systems
Republic Services, Inc. to acquire US Ecology, Inc.
Announced Feb 9, 2022 · Closed May 2, 2022
Deal value$2.20BEV $2.20B
Premium79.0%To unaffected price
EV / Adj. EBITDA14.1x2.3x EV / Revenue
ConsiderationAll cash$48.00 per share
Transaction
- Acquirer
- Republic Services, Inc. (RSG)
- Target
- US Ecology, Inc.
- Buyer type
- Strategic
- Offer price per share
- $48.00
- Enterprise value
- $2.20B
- Status
- Closed May 2, 2022
Deal protections
- Break fee (target pays)
- $46.3M · 2.1%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Moelis
- To the target
- Barclays, Houlihan Lokey
Sector context · Industrials
- Comparable deals
- 53 in the prior 24 months
- Premium
- 79.0% vs. 42.5% sector median
- EV / Adj. EBITDA
- 14.1x vs. 11.2x sector median
- Break fee
- 2.1% vs. 2.8% sector median
Timeline
- AnnouncedFeb 9, 2022
- Proxy filedMar 11, 2022
- Definitive proxyMar 29, 2022
- Shareholder voteApr 26, 2022
- ClosedMay 2, 2022